Time for another round of profit taking if we hit 1200$.
I am not finding that bitcoin will make turn around $1200 levels this time as it is marching with the target of $1500 levels. Hopefully by the time of bitcoin etf gets approval, I believe bitcoin prices will reach this remarkable level of $1500. Because there is a strong sentiment among traders like bitcoin will test $2000 levels too.
If $2000 will be possible, I guess we need to forget completely about profit booking for time being as bitcoin will get more investors through media coverage hence the next target of $5k or $10k also easily viable in quick time.
I also see bitcoin bulls charging for another $100 increase, I may say $1300 before the ETF decision and if it is approved we can see Bulls charging to $1500. If ETF is disapproved then this bull charge will become bull trap LOL. And will support OP decision of taking profit at $1200.